DailyTech reported yesterday on GM's announcement that it had found a buyer for the Hummer brand of heavy utility vehicles. The mystery buyer promised to take on the brand and help expand its international presence. In the process it saved a number of jobs at Hummer plants and helped GM complete a major step toward moving out of bankruptcy.

Now the identity of the mystery buyer has been revealed. Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a Chinese industrial firm, will be purchasing the brand and attempting to revive it.

States Yang Yi, chief executive of Tengzhong, "We plan to ... allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team."

He did, however, hint at changes stating that the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."

The companies hope to have the deal finalized by September. The deal does not concern the military Hummer technology owned by defense contractor AM General, which licensed the brand name to GM for civilian vehicle purposes. AM General will now, in turn, license the name to Sichuan Tengzhong, which will continue the civilian Hummer development.

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America is selling off all its manufacturing assets simply because we can't compete with workers in China who make 50¢ an hour . America has huge TRILLION DOLLAR government deficits. America has huge HUNDRED BILLION DOLLAR trade deficits. America is losing half a million jobs a month. No wonder the economy is in the dumps.

On the lighter side, is California Governator Arnold Schwarzenegger going to buy the new made-in-China Hummer when it arrives in America?

quote: America is selling off all its manufacturing assets simply because we can't compete with workers in China who make 50¢ an hour .

Our liberal government is forcing manufacturing out of business because they set ridiculous regulations on the industries - like their new pet peeve, carbon tax - making every product, plant, process, and material more expensive to use and produce. Our labor costs have always been higher than china, but so are our incomes.

If Obama and Pelosi think people are going to buy a TV, or microwave, or iron for $200, when the comparable one next to it from China is $5....just because it has a sticker on it that says "Made from the most expensive, anti-carbon, money grabbing scheme in the world", then you best think again.

You seem to have forgotten that what led to the Big Three's woes were incompetent leadership, poor designs, inability to look to the future, being screwed over by the UAW, shoddy workmanship... to name a few. Yes, overseas car manufacturers are part of the problem - but there would not have been a problem if the Big Three had not rested on their laurels and believed that America would keep buying enormous expensive gas-guzzlers for eternity.

As for the carbon tax issue, simply slap an additional tax on products that aren't manufactured under such regulations, and offer tax breaks for those that are.

For disclosure, I work for GM. I deal with financially distressed suppliers. These are my personal comments and not those of GM.

For the record, labor component of parts we buy varies considerably but is often 2-6% of the component price in the US and Canada. In 90% of the cases, even if labor were free in China, Korea India,Japan etc it wouldn't make up for the tranportation costs.

The reason American manufactures can't compete is not because of labor. It's because ofgovernment provided health care.Government regulated and subsidized raw material costs.Government run and subsidized energy costs.new factories provided for free.Government paid R&D(hell the Korean government built an entire Battery R&D center for plug in electric vehicles. The American Company didn't have a chance to compete! Remember this from Obama's Speech? He did give the details, that's the truth behind the decision)etc, etc,

Our greatest freedom, is the freedom of speech but we should know what the F*** we're talking about when we open our mouths.

I'm not defending any of GM's actions. I agree the management didn't have the courage to do what was necessary years ago. I'm as pissed as anyone else.

Besides the US and Europe though, we're profitable everywhere else. We kick Toyota's ass in China, South America, even Europe. Anywhere the playing field is level we have higher market share, higher profitability.

If GM were liquidated in the US, it would still exist everywhere else. It would soon be shipping in cars from Mexico, China, Brazil, Korea, India. GM wouldn't go away, only American manufacturing and ownership.

So when I come into these forums to see these ass clowns rail on Obama or Pelosi for being socialist, reciting Fox News talking points, it pisses me off that the education here in the US is so poor to create this morons.

We're in a war. We're in the trenches with sticks and stones while our enemies have machine guns.

quote: So when I come into these forums to see these ass clowns rail on Obama or Pelosi for being socialist, reciting Fox News talking points, it pisses me off that the education here in the US is so poor to create this morons.

Hmm. Ok, so we know which side of the fence you're bringing your viewpoint from. But then you say:

And tell me, why do you think that is? Perhaps too much government intervention and regulation not only in business, but peoples lives and buying limitations? Ahh yes, and its only getting worse....under Obama and Pelosi.

Its quite comical that your rebuttal tries bash others viewpoints while trying to blame Fox News. There is only one group of people who do that - angry liberals.

quote: labor component of parts we buy varies considerably but is often 2-6% of the component price in the US and Canada. In 90% of the cases, even if labor were free in China, Korea India,Japan etc it wouldn't make up for the transportation costs.

Wait, you work for GM, so are you a Union member too? Now its starting to make sense. You are honestly trying to blame everything in the world - except labor costs, US government regulation, and the union stranglehold. Yeah, must all be Fox News fault.

I have an engineering degree, I have an MBAI speak 4 languages and hold 3 active citizenships.I chose to be American ( that's the one I'm proudest of )The other 2 I was born into.

I've been in more countries and more manufacturing facilities than I can remember to count.

Every day I shut down companies who are working their asses off to compete. Even in these circumstances these people are professional and honorable in their actions. Unlike the Chinese companies who close their doors and don't bother to tell you.

I've personally negotiated agreements that put approx 10000 people out of work.

I don't think anyone can debate that *some* regulation is good, but what conservatives and libertarians generally have a problem with is that the government goes way overboard.

The government is no longer simply creating incentive for responsibility, the government is now mandating actions that are based on ideology. This is precisely the problem. The government has too much say in the day-to-day lives of it's citizens. Sure, it wouldn't be so bad if the government's actions were all perfect, but government is inherently inefficient and often hijacked by corruption and self-interest. This is the human element and the very reason why a government should *not* have too much power.

So in short, regulation is good, but *like anything* there can be far too much regulation. The U.S. has a government that removes incentive to innovate and produce. This harms the country and the economy.

There is such a thing as too much regulation, but the standard of living is quite high in the US compared to many countries so I can't agree it is effecting the US significantly, if anything the consumer problems are they want even more luxury and overextend their credit line.

Now excuse me while I pick a new widescreen TV because my present one /only/ does 720P.